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  1. #1
    Join Date
    Mar 2009
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    30,165

    NY - Martin Shkreli, drug price-gouging CEO, arrested for fraud

    NY Daily News:

    Martin Shkreli, detested pharma CEO who jacked up
    price of AIDS pill, arrested for securities fraud: report


    Maybe he can sell that Wu Tang album for bail.

    The much-hated pharmaceutical entrepreneur who jacked up the price of a life-saving AIDS pill by more than 5,000% was arrested for securities fraud.

    Martin Shkreli, Turing Pharma's CEO, was taken into FBI custody early Thursday amid a federal investigation related to his former hedge fund.
    ---
    Earlier this month, the “pharma bro” said he wished he raised the price even more.

    “I could have raised it higher and made more profits for our shareholders, which is my primary duty,” he said.
    ---
    the rest, with video, at link above

  2. #2
    Join Date
    Oct 2014
    Location
    Bloomington IN
    Posts
    4,981
    It couldn't happen to a nicer guy[]

  3. #3
    Join Date
    Mar 2009
    Posts
    30,165
    news.groopspeak.com:

    Guess how much money "Pharma Bro" lost after being arrested

    Shkreli’s company Turing Pharmaceuticals also took a massive loss after Imprimis Pharmaceuticals came up with a compounded alternative to Daraprim and sold it for $1 per pill vs. Turing’s $750 per pill.
    the rest at link above

  4. #4
    Join Date
    Oct 2013
    Posts
    1,499
    Sweet, sweet karma.

    Sent from my SM-G920V using Tapatalk

  5. #5
    Join Date
    Mar 2009
    Posts
    30,165
    Gothamist:

    Feds: Martin Shkreli was running multi-million-dollar Ponzi Scheme

    The brash and widely-despised pharmaceutical CEO Martin Shkreli orchestrated a "web of lies and deceit," U.S. Attorney Robert Capers said in a press conference after Shkreli's arrest today. "His plots were matched only by efforts to conceal the fraud, which led him to operate his companies, including a publicly traded company, as a Ponzi scheme, where he used the assets of the new entity to pay off debts from the old entity."

    Shkreli, a 32-year-old apparent wunderkind, had founded a hedge fund, MSMB Capital in 2009. The feds allege that MSMB Capital was failing—with only $700 in its accounts while Shkreli claimed it had $35 million— and, based on various lies, Shkreli got another $3 million in investments.

    After abandoning MSMB Capital, Shkreli then created MSMB Healthcare and Retrophin Pharmaceuticals, for the alleged purpose of paying back MSMB Capital investors. Andrew Cereseny of the Securities Exchange Commission said, "Shkreli committed fraud in nearly every aspect of his hedge fund managing."
    ---
    more at the link, with pics, chart, more links

  6. #6
    Join Date
    May 2013
    Posts
    629
    Nasty piece of work. Wonder if he'll survive prison? He seems like such a narcissist.

    Oops, better say that IMO he is guilty as hell and of course that's only my opinion.

  7. #7
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    Mar 2009
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    30,165

  8. #8
    Join Date
    Aug 2003
    Location
    Left Coast USA
    Posts
    8,843
    Martin Shkreli Resigns From Turing Pharmaceuticals
    New York Times
    By ANDREW POLLACK December 18, 2015


    http://www.nytimes.com/2015/12/19/bu...pany.html?_r=0

    That's all I can post at the moment, NY Times pages currently not very iPad friendly.

  9. #9
    Join Date
    Aug 2003
    Location
    Left Coast USA
    Posts
    8,843
    Oh, this is a good new Vanity Fair article:

    http://www.vanityfair.com/news/2015/...-ceo-interview

  10. #10
    Join Date
    Aug 2012
    Posts
    1,245
    Good old karma! Swallow that pill, Martin.


  11. #11
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    Aug 2014
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  12. #12
    Join Date
    Jan 2012
    Posts
    2,426
    Feb 4, 2016 Reuter link with some highlights of article on Shkreli....who mocked the hearing and was able to leave early because he would not answer anything. Shkreli commented he was told how to smile and act while in the hearing. Shkreli is still facing other charges. Link Below

    http://www.reuters.com/article/us-us...-idUSKCN0VD20S


    "Former drug executive Martin Shkreli laughed off questions about drug prices and tweeted that lawmakers were imbeciles on Thursday, when he appeared at a U.S. congressional hearing against his will."

    ... U.S. House Committee on Oversight and Government Reform hearing, "Shkreli repeatedly invoked the Fifth Amendment of the U.S. Constitution, which says no person shall be compelled in any criminal case "to be a witness against himself."''

    On his Twitter account he wrote....." "Hard to accept that these imbeciles represent the people in our government." "

    Shkreli left early as he refused to answer any questions...just gave several kinds of facial smiles...which IMO were pretty creapy.

    "Representative John Mica, a Florida Republican, said he would consider asking fellow lawmakers to hold Shkreli in contempt for his behavior."

    Shkreli still faces other charges and is out on bond.

  13. #13
    Join Date
    Jul 2009
    Posts
    9,263
    I caught a very short update of his appearance yesterday.....what a disrespectful, smirking, rude little punk. Waiting for karma to catch up with this twit.

  14. #14
    Join Date
    Aug 2014
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    Is it wrong to want to smack that smug look right off his face? I can not believe someone was so disrespectful while speaking to members of Congress. What a jerk.

  15. #15
    Join Date
    Jul 2014
    Posts
    8,741
    What a waste of a supposedly brilliant mind.

    JMO

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